Which of the following statements is true about the acceptance of an offer
A Acceptance must follow the mirror image rule to create a binding contract
B Unilateral contracts are accepted by making a promise
C Counteroffer usually means an acceptance of an offer
D Bilateral contracts are predominantly accepted by the offer performing the act
E The languor of an offer is optional in determining the nature of contract and its acceptance
The correct answer and explanation is :
Answer: False
Explanation:
In contract law, the languor (or delay) of an offer is not optional in determining the nature of a contract and its acceptance. Instead, the timing and duration of an offer are critical elements in contract formation.
An offer is a definite promise by one party to another, expressing a willingness to enter into a contract under specified terms. However, an offer does not last indefinitely—it must be accepted within a reasonable time or within a period specified by the offeror. If the offeree fails to accept the offer within the stipulated timeframe, the offer lapses, meaning it is no longer valid.
Importance of Timing in Contract Formation:
- Fixed Time Limit: If the offer specifies a deadline for acceptance, the offeree must respond before it expires. For example, if a seller offers to sell goods at a particular price valid until March 30, acceptance on April 1 would be invalid.
- Reasonable Time: If no specific time frame is mentioned, the offer remains open for a reasonable period, depending on the nature of the contract, industry standards, and circumstances. A perishable goods contract, for instance, has a shorter reasonable time frame than a real estate transaction.
- Revocation of Offer: An offeror can withdraw an offer before acceptance, provided the withdrawal is communicated to the offeree. Once revoked, the offer ceases to exist.
- Effect of Lapse: If an offer lapses due to expiration, delay, or revocation, it cannot be accepted, and no valid contract is formed.
Thus, the statement is false because the timing and duration of an offer are not optional but essential factors in contract acceptance and formation.